Thursday, 26 July 2018

Shell starts $25bn share buyback as Q2-profits disappoint

Engineers looking at Prelude FLNG Engineers looking at Prelude FLNG

Oil and gas giant Royal Dutch Shell has underwhelmed expectations by posting a Q2 net income of $4.69 billion – less than even the lowest analyst forecast. The launch of a $25 billion share buyback, however, is seen as a signal that Shell has recovered from a three-year downturn in the energy sector.

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